The price of Dogecoin has increased over the past three days, reaching a high of $0.3340 and gaining 12% from its lowest point this week. This rise is attributed to the launch of a new fund by Grayscale for accredited investors, which sees Dogecoin as a tool for global financial inclusion. There is growing optimism among crypto investors that a spot Dogecoin exchange-traded fund could be approved by the Securities and Exchange Commission (SEC). Analysts believe that if approved, Dogecoin could potentially reach $1 in February, representing a nearly 200% increase and a market capitalization of approximately $150 billion. Several factors need to align for this to happen, including the SEC being open to more crypto ETF approvals, Bitcoin maintaining its bullish momentum, the release of encouraging inflation data by the United States, and Dogecoin's technical indicators aligning for a surge in price. The coin's technical analysis suggests a bullish pennant pattern and the potential for a fifth and final bullish wave, with a possible price target of $0.6086 or even a retest of the all-time high at $0.7600.



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